The business day prior to the 15th calendar day of the contract month.

Trading Hours:

Electronic: 5:00 p.m. - 2:00 p.m. Central Time
Trading in expiring contracts closes at noon on the last trading day.

Daily Limit:

+-$20/ton ($2,000/contract), spot month none

Analysis

Fri 11/16/18

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: Volatility appears to be declining, as evidenced by a decreasing distance between the upper and lower bands over the last few bars. The market is in overbought territory.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short Term: Recently the market has been extremely bearish, however currently the market has lost a some of its bearishness due to the following: the slow moving average slope is up from previous bar, price is above the fast moving average, price is above the slow moving average. Its possible that we may see a market rally here. if so, the rally might turn out to be a good short selling opportunity.

Conventional Interpretation - Long Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Long Term: Recently the market has been extremely bearish, however currently the market has lost a some of its bearishness due to the following: the fast moving average slope is up from previous bar, price is above the fast moving average. Its possible that we may see a market rally here. if so, the rally might turn out to be a good short selling opportunity.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is below the moving average so the trend is down.

Additional Analysis: Market trend is DOWN.

Stochastic - Slow Indicator:

Conventional Interpretation: The SlowK line crossed above the SlowD line; this indicates a buy signal.

Additional Analysis: The long term trend is DOWN. The short term trend is DOWN. Don't be fooled looking for a bottom here because of this indicator. The stochastic indicator is only good at picking bottoms in a Bull Market (in which we are not). Exit short positions only if some other indicator tells you to.

Swing Index Indicator:

Conventional Interpretation: The swing index has crossed zero, identifying this bar as a short term pivot point.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is in a downtrend based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is DOWN. Volume is trending lower. In general this is bearish.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (-60.70) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation,CCI (-60.70) is bearish, but has begun showing some strength. Begin looking for an attractive point to cover short positions and return to the sidelines.

MACD Indicator:

Conventional Interpretation: MACD has issued a bullish signal. A bullish signal is generated when the FastMA crosses above the SlowMA, as it has here.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. MACD has issued a bullish signal, suggesting that the short term upward trend may continue, and may indicate a pending reversal in the long term trend.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Momentum is in bearish territory.

Open Interest Indicator: Open Interest is in a downtrend based on a 9 bar moving average. While this is normal following delivery of nearer term contracts, be cautious. Decreasing open interest indicates lower liquidity.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is in bearish territory.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 42.13). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat oversold (RSI is at 42.13). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence here before getting too bullish here.

Stochastic - Fast Indicator:

Conventional Interpretation: The SlowK line crossed above the SlowD line; this indicates a buy signal.

Additional Analysis: The long term trend is DOWN. The short term trend looks a little bottomy. A possible short term up move may occur. A good downward move is possible without SlowK being oversold. However, an upmove in SlowK for this bar is a little concerning short term.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.